Rupert Murdoch to acquire the Dow
Rupert Murdoch and his NewsCorp appear set to purchase Dow Jones.
The Journal said, quoting unnamed people familiar with the situation, that Bancroft family members representing 32 percent of the company’s vote had agreed to the deal. A family spokesman declined to comment.
Murdoch’s News Corp. must still decide whether it is comfortable with that level of support in order to proceed. With some public shareholders likely to abstain, News Corp. wants a solid majority of votes committed to the deal.
Murdoch wants to win big.
Here is MSNBC’s David Sweet whining about the deal. He argues that everything Murdoch touches is ruined, asserting that the Los Angeles Dodgers were a good team until Murdoch purchased and destroyed the franchise. He wants the Wall Street Journal to stay stuck in the early 20th century, not adapting to new realities. (He explicitly says this in his piece.) Sweet’s problem, of course, is that his failing network’s failing financial network sisters, CNBC, had an exclusive deal with Dow Jones and the WSJ. Murdoch’s launching his business network in October, so it might spell the end for the dying CNBC franchise. And MSNBC might not be far behind.
C’est la vie.






